“Ten years ago U.S. defence investment represented almost half of all defence expenditure in the whole alliance. Today it is 75%. This increasing economic gap may also lead to an increasing technology gap which will almost hamper the inter-operability between our forces.” YearsMayWholeTodayForceHalfTechnologyEconomicTenYears AgoInvestmentGapsDefenceAlliancesExpendituresHamper Author:Anders Fogh Rasmussen
“In Texas, years ago, almost all of the oil came from surface operations. Then someone got the idea that there were greater sources of supply deeper down. A well was drilled five thousand feet deep. The result? A gusher. Too many of us operate on the surface. We never go deep enough to find supernatural resources. The result is, we never operate at our best. More time and investment is involved to go deep but a gusher will pay off.” YearsWellsIdeasEnoughTimeResultsPayFiveGreaterFeetSourceInvolvedThousandResourcesYears AgoInvestmentDeeperSurfaceOilOperationsMore TimeTexasNatural Resources Author:Alfred Armand Montapert
“The reason is they failed to learned the primary lesson we should have learned from when Long Term Capital Management went belly up ten years ago. That is, investments that seem uncorrelated can be correlated simply because we're interested in it.” ShouldYearsLongReasonSeemsTermLessonsTenYears AgoShould HaveManagementInvestmentPrimariesLong TermBelly Author:Richard Thaler
“The general culture of investment banking has deteriorated over the years. We did a $6 million deal years ago for Diversified Retailing and we were rigorously and intelligently screened. They bankers cared and wanted to protect their clients. The culture now is that anything that can be sold for a profit will be. 'Can you sell it?' is the moral test, and that's not an adequate test.” YearsWantedCultureDealsMoralMillionsProtectYears AgoTestsSellsInvestmentProfitClientsBankingAdequateBankersInvestment BankingRetailing Author:Charlie Munger
“A low-cost index fund is the most sensible equity investment for the great majority of investors. My mentor, Ben Graham, took this position many years ago, and everything I have seen since convinces me of its truth.” YearsPositionCostLowsYears AgoMajorityInvestmentConvinceFundInvestorsSensibleMentorEquityIndex Funds Author:Warren Buffett
“Prints can absolutely be investment pieces. I've seen prints from my collections from five years ago on the street now. It's totally possible. If the colors don't age and if the fabric is beautiful, then of course people should wear it year after year.” PeopleIfsShouldYearsAgeBeautifulCoursesFivePiecesStreetsColorYears AgoInvestmentFive YearsCollectionsPrintFabric Author:Thakoon Panichgul